Future submillimeter and far-infrared space telescopes will require large-format (many 1000's of elements) imaging detector arrays to perform state-of-the-art astronomical observations. A crucial issue related to a focal plane array is a readout scheme which is compatible with large numbers of cryogenically-cooled (typically < 1 K) detectors elements. When the number of elements becomes of the order of thousands, the physical layout for individual readout amplifiers becomes nearly impossible to realize for practical systems. Another important concern is the large number of wires leading to a 0.1-0.3 K platform. In the case of superconducting transition edge sensors (TES), a scheme for time-division multiplexing of SQUID read-out amplifiers has been recently demonstrated. In this scheme the number of SQUIDs is equal to the number (N) of the detectors, but only one SQUID is turned on at a time. The SQUIDs are connected in series in each column of the array, so the number of wires leading to the amplifiers can be reduced, but it is still of the order of N. Another approach uses a frequency domain multiplexing scheme of the bolometer array. The bolometers are biased with ac currents whose frequencies are individual for each element and are much higher than the bolometer bandwidth. The output signals are connected in series in a summing loop which is coupled to a single SQUID amplifier. The total number of channels depends on the ratio between the SQUID bandwidth and the bolometer bandwidth and can be at least 100 according to the authors. An important concern about this technique is a contribution of the out-of-band Johnson noise which multiplies by factor N(exp 1/2) for each frequency channel. We propose a novel solution for large format arrays based on the Hadamard transform coding technique which requires only one amplifier to read out the entire array of potentially many 1000's of elements and uses approximately 10 wires between the cold stage and room temperature electronics. This can significantly reduce the complexity of the readout circuits.